VillageMD Inks Deal To Acquire Summit Health-CityMD In $8.9B Deal

Home Health Care News November 7, 2022
Joyce Famakinwa

Just a week after reports that VillageMD had its eye on Summit Health-CityMD, the former announced that it has entered a definitive agreement to acquire the latter. With investments from Walgreens Boots Alliance Inc. (Nasdaq: WBA) and Evernorth – Cigna Corporation’s (NYSE:CI) health services organization – the deal is valued at $8.9 billion.

“You think about the power of what these organizations can do focused on value-based care — it’s really quite exciting,” Tim Barry, CEO and chair of VillageMD, told Home Health Care News. “The combined entity will have 20,000 employees and we’ll be taking care of millions of patients, all with this idea around a value orientation and multi-specialty delivery that is focused on excellent clinical care.”

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